Everstream Solutions LLC is being sold to AMP Capital, which will use the super-regional network service provider as a platform for its North American telecom businesses. Terms were not disclosed.
“Communications infrastructure has become an essential service in the modern world, including fiber, wireless and data centers,” said Dylan Foo, head of Americas Infrastructure Equity at AMP. “AMP Capital has a strong global pedigree in this target sector, and we are pleased to secure our first North American fiber asset.”
The transaction is expected to close in the second quarter of 2018, pending regulatory approval. Everstream, which provides fiber-based Ethernet, internet and data center solutions to businesses throughout the Midwest, plans to utilize the investment from AMP Capital for acquisitions and to fund organic network growth and development.
“We are excited to join forces with AMP Capital,” Everstream President and CEO Brett Lindsey said in a statement. “With their support, Everstream looks forward to continued positive growth through acquisitions, greenfield network builds and organic growth in our existing markets.” Assisting with the deal:
- Evercore and MVP Capital served as lead financial advisers to Everstream and M/C Partners.
- Choate, Hall & Stewart and Thompson Hine served as legal counsel to Everstream and M/C Partners.
- Goldman Sachs served as financial adviser to AMP Capital and White & Case served as legal counsel.